While it does make Election Night (watching the networks) more interesting, there is no plausible reason in my opinion to have a system in place where virtually 35 states even before the campaign begins are already decided and in the bag for one party or another. It's ridiculous.
How is that different from watching the returns for Prime Minister in Canada or the UK? Most constituencies are effectively decided long before election day, yet no one claims that is ridiculous. The EC replaces Parliament to elect the executive leader of the government.
What makes the US unique is not the lack of direct elections for the executive. If the US followed most other major democracies Congress, not direct elections, would select the head of the executive branch. The unique feature in the US is that the Constitution creates a parallel body to Congress for the purpose of selecting the executive. Congress only steps in to select the executive if the EC fails to get a majority for a candidate.